2 papers
econ.TH2020
All-Pay Auctions as Models for Trade Wars and Military Annexation
Benjamin Kang, James Unwin
We explore an application of all-pay auctions to model trade wars and territorial annexation. Specifically, in the model we consider the expected resource, production, and aggressi…
econ.TH2020
All-Pay Auctions with Different Forfeits
Benjamin Kang, James Unwin
In an auction each party bids a certain amount and the one which bids the highest is the winner. Interestingly, auctions can also be used as models for other real-world systems. In…